A state-run company will be created soon to manage the Iasi-Ungheni gas pipeline on Moldova’s territory.

The Government approved an amendment to the 2014 state budget law by which the Ministry of Economy is allowed to reallocate 8 million lei from the sources intended for financing other projects. This sum will represent the initial capital of the new state-owned company, IPN reports.

Deputy Prime Minister and Minister of Economy Valeriu Lazar said the company will be founded in several weeks given that the works to build the gas pipeline are to be completed by August 27. The company will manage only the part of pipeline that goes through Moldova.